Titan Company’s profits rise 23.5% in Q2

Titan Company experienced a rise in its sales and revenues pumped also by the festive demand of Diwali and Dussehra, reports say. The company’s second quarter profits rose 23.5 per cent to `180.76 crore, as per reports. Revenues remained flat at `2,675.77 crore.

The jewellery unit of the company recorded a rise in sales within the higher margin category in the festive period. Its Tanishq brand grew by 39 per cent owing to the rise in diamond jewellery sales over gold jewellery. The watch unit of the company fared relatively slow, as per reports. The three months sale the compnay’s overall retail channels experience growth.

Courtesy: Mint